Commission tables proposal for EIB's external mandate until 2013

21.04.2010 - The Commission has suggested an enhancement of the current mandate for EIB
activities, allowing it to pursue its external work until 2013

On 21 April 2010, the European Commission adopted its proposal for the
external mandate of the European Investment Bank (EIB) for the remainder of the
financial perspective. The proposal is based on a mid-term review, which
includes a report by the "Steering Committee of Wise Persons" (SCWP),
chaired by the former Managing Director of the IMF Michel Camdessus, and an
external evaluation by COWI.

The proposal would activate a €2 billion optional mandate for the fight
against climate change. In addition, the Commission proposes replacing the
current system of regional objectives for operations under the EU guarantee
with horizontal objectives and placing more emphasis on the development aspects
of EIB financing.

It would also activate the EIB external mandate for Iceland, Belarus, Libya,
Iraq and Cambodia.

The EIB is the financing arm of the European Union. In 2009, its lending
volume reached €79 billion, of which around €9 billion concerned projects
outside the EU (€6 billion under the external mandate).

The proposed decision will ensure the continuation of the EU guarantee for
EIB external financing for the remainder of the current financial perspectives
- 2007-2013. The proposal will now be discussed by the European Council and
Parliament.